MethylGene to Present at the American Association for Cancer Research Annual Meeting

Montreal, Quebec. March 28, 2012 – MethylGene Inc. (TSX:MYG) today announced that preclinical data for its multi-targeted kinase inhibitor, MGCD265, will be reported in a poster session at the 2012 American Association for Cancer Research (AACR) Annual Meeting to be held in Chicago, Illinois from March 31 to April 4, 2012. The poster will highlight novel mechanisms underlying anti-tumor activity observed when MGCD265 is combined with erlotinib, an inhibitor of EGFR.

In another session on science policy, MethylGene’s Chief Medical Officer, Dr. Rachel Humphrey, will give a presentation on the use of biomarkers in clinical development.

Poster Presentation

The Combination of MGCD265, a Met/VEGFR Inhibitor in Clinical Development, and Erlotinib Potently Inhibits Tumor Growth by Altering Multiple Pathways Including Glycolysis

Date and Time: Monday Apr 2, 2012 8:00 AM - 12:00 PM (CT)

Session: Experimental and Molecular Therapeutics 11

Abstract No.: 1790

Location: Hall F, Poster Section 29

Science Policy Session

Dr. Humphrey’s presentation is entitled “Biomarkers in clinical development: Strategic considerations”.

Date and Time: Monday Apr 2, 2012 1:30 - 1:50 PM (CT)

Session: SP03. Scientific and Regulatory Challenges in Codevelopment of Predictive In Vitro Diagnostics

Location: McCormick Place South (Level 1), Room S103

About MGCD265

MGCD265 is a novel, oral small molecule inhibitor that targets a unique spectrum of receptor tyrosine kinases: Met, VEGFR 1, 2, and 3, Tie-2 and Ron. These kinases play key roles in tumor development, survival and metastasis as well as the inappropriate formation of blood vessels (angiogenesis) that nourish the tumor. MGCD265 has completed one Phase 1 single agent study, and is nearing completion of one Phase 1 single agent clinical trial and one Phase 1/2 combination clinical trial (with erlotinib and docetaxel) in solid tumors.

About MethylGene

MethylGene Inc. (TSX:MYG) is a small molecule drug development company that is advancing two novel therapeutics for cancer and infectious disease in human clinical trials. The Company’s lead product candidates are: MGCD290, an oral antifungal agent targeting the fungal Hos2 enzyme that is currently in Phase 2 trials for vulvovaginal candidiasis, and MGCD265, an oral Met/VEGF receptor kinase inhibitor that is in Phase 1/2 clinical trials for solid tumor cancers. MethylGene owns all rights to its lead product candidates, and has partnerships with Otsuka Pharmaceutical Co. Ltd., Taiho Pharmaceutical Co. Ltd., and EnVivo Pharmaceuticals, Inc. for its other pipeline programs.

Investor Relations Contact:

Joseph Walewicz, CFA

Vice President, Business & Corporate Development

MethylGene Inc.

Phone: 514-337-3333 ext. 373

ir@methylgene.com

www.methylgene.com

Thomas Fechtner

Vice President

The Trout Group LLC

Phone: 646-378-2931

tfechtner@troutgroup.com

www.troutgroup.com

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